Category: Business Mirror

The National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) has backed a proposal to extend the amnesty program for former rebels until 2028 due to the sheer number of pending applicants.

Based on the latest data from the National Amnesty Commission (NAC), there are currently 4,269 people as of 19 September 2025, 4,269 former rebel0, who have applied for the amnesty program which is set to lapse on March 13 of 2026.

‘Then, we got an information from the Task Force Balik-Loob wherein they informed us that they have a total of 50,000 potential applicants and we have the remaining six months to receive the applications,’ National Amnesty Commission Chairperson Leah Tanodra-Armamento said in a press briefing in Malacañang last Wednesday.

The National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) Executive Director Ernesto C. Torres Jr. said the proposal is now under review.

‘Its approval [is] held in abeyance pending further review of the Office of the President, so that this status on that,’ Torres said.

Armamento hopes to extend the amnesty program for two years or until 13 March 2028 with the support of Congress.

‘The reason for that is that when a proclamation for amnesty is issued by the President, we have to ask congress for concurrence. So, if we want that-we only ask one more time from Congress so that it will be too much of an effort from the part of the National Amnesty Commission,’ she said. The NAC has recommended to President Ferdinand Marcos the granting of amnesty to only 9 former rebels.

In a statement, the Office the Presidential Adviser of the Peace Process announced that Marcos has approved the recommendation of the NAC, which covered eight former members of the Communist Party of the Philippines – New People’s Army – National Democratic Front (CPP-NPA-NDF) and one former member of the Moro Islamic Liberation Front (MILF). The slow pace of the approval of the amnesty applicants was due to the large number of NAC members, who must sign the certificate of amnesty including the secretaries of Justice, Interior and Local Government, National Defense as well as the Presidential Adviser on Peace Process.

Most of the said NAC members conduct their own review and vetting process for the applicants. This results in an approval process which can take from a week to as long to two months.

Marcos authorized the granting of amnesty to members of the Rebolusyonaryong Partido ng Manggagawa ng Pilipinas/Revolutionary Proletarian Army/Alex Boncayao Brigade (RPMP-RPA-ABB), CPP-NPA-NDF, MILF, and Moro National Liberation Front (MNLF) through four proclamations, which he issued in 2023. (Samuel Medenilla)

DigiPlus Interactive Corp., the country’s premier digital entertainment provider behind BingoPlus, ArenaPlus, and GameZone, today announced a landmark partnership with Philippine First Insurance Co. Inc. (PhilFirst), the country’s first domestic insurance company.

Together, they have introduced the Philippines’ first-ever surety bond program for online gaming players – setting a new benchmark in player protection. The program takes effect immediately.

For players, this means more peace of mind every time they log in, as long as their eKYC (electronic Know-Your-Customer) information is up to date and they continue to play within the platform’s guidelines. Whether it’s a casual gamer or a loyal fan celebrating a big win, they can enjoy BingoPlus, ArenaPlus, and GameZone knowing their wallets and balances are even better protected.

Through this initiative, eligible players benefit from an added financial safeguard. The surety bond protects player balances of up to ?1 million per player, without requiring customers to purchase a separate policy.

‘DigiPlus is proud to be the first in the industry to roll out this level of consumer protection,’ said DigiPlus Chairman Eusebio H. Tanco. ‘We are committed to putting our players first. With this surety bond, they can play confidently on BingoPlus, ArenaPlus, and GameZone, knowing that their funds are safeguarded.’

How does the DigiPlus surety bond work?

Eligibility: Players must be eKYC-verified, have made at least one successful deposit, and be in good standing within the platform’s guidelines.

Coverage: The surety bond safeguards player wallets and balances up to ?1 million per player.

Activation: Protection is in place immediately and applies automatically for all eligible players across BingoPlus, ArenaPlus, and GameZone.

This latest measure strengthens DigiPlus’ commitment to reliable customer service and protection, adding the surety bond to its 24/7 customer support and 130+ physical BingoPlus stores nationwide, which already serve as convenient and trusted outlets for players.

With the addition of the surety bond, DigiPlus continues to raise industry standards – delivering not only engaging and innovative gaming offerings but also a stronger guarantee of trust, security, and peace of mind for its customers.

THE Shareholders Association of the Philippines (Sharephil) has partnered with the Securities and Exchange Commission (SEC), among other organizations, to launch a project the group expects would equip retail investors and shareholders with tools to make informed investment decisions.

In a ceremony held last Wednesday, Sharephil officers turned over the first batch of its educational videos to SEC Chairman and CEO Francis E. Lim. They also signed a memorandum of understanding with representatives of partner groups. The goal of the project is to have a digital library for the SEC to educate the public.

The partners include the Capital Markets Development Foundation Inc., the Finex Research and Development Foundation, the Philippine Stock Exchange, the Management Association of the Philippines, the Philippine Institute of Certified Accountants and the Junior Achievement of the Philippines Inc.

Citing a study by the Boston Consulting Group, Sharephil President Conrado F. Bate said the number of mass affluent Filipinos, or those at least $100,000 or around P5.8 million in wealth, is expected to almost double to 48 million, with GDP-per-capita reaching around $6,500, by 2030.

‘This means millions more Filipinos will soon have the savings and appetite to invest. And with the right knowledge and values, Filipinos can turn this opportunity into lasting success,’ Bate said. ‘Our goal is simple: to give every Filipino access to high-quality, easy-to-understand materials that guide them on their investing journey.’

The digital library will contain a collection of educational videos and short reels that explain investing concepts in a clear and practical manner. Topics of the videos include getting started with investing, understanding equities and building a future ready portfolio.

The videos are designed especially for self-directed investors and young professionals who want to take control of their financial future with trustworthy guidance.

‘The library is not just about the basics; it’s also about building good investing habits like patience, discipline, and a long-term mindset. It will be a living resource, continuously updated so it remains relevant and accessible to anyone, anytime,’ Bate said.

Lim expressed he’s ‘personally excited that Congress is now looking at bills to make financial literacy a mandatory subject for our high schools or college students.’

The latter, he added, is his ‘personal advocacy back in my PSE days.’

‘As SEC chair, I will wholeheartedly support this initiative. Just imagine: a whole generation growing up fluent in the language of savings, investing, and planning for the future,’ Lim said.

Trinasolar International Systems Business Unit (ISBU), the project development arm of China’s Trinosolar Co. Ltd., signed a 20-year power purchase agreement (PPA) with AdventEnergy Inc., the retail electricity supply arm of Aboitiz Power Corp., for the 49.9-megawatt alternating current (MWac) Mabini solar project in Pangasinan.

The solar power project is scheduled for commercial operations in the third quarter of next year and is expected to generate 110.84 gigawatt hours (GWh) of electricity in its first year, equivalent to the annual energy consumption of over 24,000 households. This project is expected to reduce 76,549 tons of carbon dioxide emissions annually.

The Mabini solar project earlier secured a green lane certification from the Board of Investments (BOI). The certification aims to fast-track permitting and licensing for strategic energy investments.

‘The Mabini Solar Project shows what can be achieved through strong cooperation between the Advent and Trinasolar,’ said Trinasolar ISBU Southeast Asia Country Manager Derek Wang. ‘Together, we are advancing the country’s renewable energy goals and creating lasting value for local communities.’

Wang signed the PPA with AdventEnergy Assistant Vice President for Retail Operations Rence Pazcoguin, Vice President for Retail Operations and Portfolio Management John Davis Mangubat, President James Byron Yu.

‘We look forward to working hand-in-hand with Trina Solar as we bring a stronger and more sustainable energy future to our customers and deliver lasting impact to the industries we serve,’ said Yu.

Filipino renewable energy (RE) developer Spotlight Power, Inc. is the developer of the Mabini solar power project, with support from Trina Solar.

Last March, AboitizPower said it has set aside P78.1 billion for capital expenditures (capex) this year, majority of which will be used to expand its renewable energy (RE) portfolio, aligning with its goal of increasing its clean energy capacity to 4,600 MW by 2030.

The company said it will continue to make huge bets on RE. Last year it set aside 72 percent of its capex budget of P73 billion for clean energy projects.

These include the 159-MWp Laoag solar project in Pangasinan, the 17-MW Tiwi binary geothermal plant in Albay, the 45-MWp Armenia solar project in Tarlac, and the 173-MWp Calatrava solar project in Negros Occidental.

The National Food Authority (NFA) is seeking about P3 billion in additional funds to rent private warehouses and buy more unmilled rice following the damage caused by recent typhoons.

NFA Administrator Larry Lacson said Malacañang is expected to issue an executive order ‘soon’ that will authorize the release of the budget under emergency procurement.

‘We already discussed this with the Department of Agriculture last week.it’s now in Malacañang. I think they’re polishing it.It’s not within the year. It’s the soonest possible time,’ Lacson told reporters on Tuesday.

He said NFA warehouses are already ‘almost full,’ making it difficult to expand procurement without additional government support.

‘Right now, to be honest, we don’t have funds for renting warehouses because the NFA as a [government-owned or -controlled corporation] relies only on rice sales to cover expenses. And our expenses are bigger than the money coming in.’

Lacson said the situation has been compounded by recent storms that left some NFA facilities with minor damage. In Masbate, one warehouse had its doors blown off, while several warehouses in Region 8 reported leaks.

The NFA compound in Occidental Mindoro was also flooded, although no significant stock losses were recorded.

He described these as ‘minor repairs,’ but noted they added pressure to free up storage space for new procurement

To address this, NFA has instructed its field officers to identify private warehouses in every region that can be rented.

In 2024, the agency reported 288 warehouses nationwide, 136 of which underwent repairs earlier this year.

Palay purchases

With the new order, Lacson also said the NFA’s procurement of wet season palay could rise by 8 percent, higher than the 5 percent it usually manages under regular conditions.

He noted, however, that the impact on traders’ prices will be limited-‘probably in some areas’ and only ‘spot by spot.’

Still, he said ‘at least with the additional 3 percent, more farmers will benefit than if there was no intervention.’

The mandate will also allow NFA to purchase storm-damaged palay, which farmers often cannot sell.

Lacson said, however, that the agency would still prefer to buy dry palay since the agency lacks drying facilities.

NFA currently buys dry palay at P23 per kilo and wet palay at P17 per kilo, although prices can change depending on market conditions.

He assured farmers that the agency will not buy palay at single-digit prices.

‘That will not happen. The national government, the NFA in particular, will not do that. Because we would like to really help our farmers that are in distress right now. Their situation is already very difficult. We will not buy at a single-digit price per kilo, definitely not.’

Floor price

Lacson added that there is also a ‘good chance’ the executive order will include the establishment of a floor price for palay, in line with President Marcos’ directive to prevent traders from taking advantage of farmers during harvest season.

The floor price will be set per province to reflect differences in local costs.

‘The DA has already directed its regional field offices to compute the local production cost. Because each province has a different production cost. So that’s the first step-to determine the production cost of every area. And then we can set, from that production cost, what would be the acceptable floor price so our farmers won’t incur losses.’

The average price of nickel could inch up to $15,400 per metric ton (MT) this year on the back of stable demand and a weakening dollar, according to a research firm.

BMI, a unit of Fitch Solutions, recently adjusted upward its nickel price forecast from $15,000 per MT. Indonesia’s policies, however, remain a downside risk.

‘We now hold a more optimistic outlook for [the second half of] 2025 than previously, with prices set to hold firm for the remainder of the year,’ BMI said. ‘[This will be] underpinned by Fed optimism and persistent policy-driven turbulence in Indonesia, alongside broadly stable demand conditions.’

‘That said, we remain cautious as Indonesia’s ongoing capacity additions are a key headwind that continues to skew risks to our outlook to the downside.’

Despite lowering this year’s global nickel demand growth forecast due to softer global growth and heightened trade risks, the research firm expects the market to remain solid, a development that is expected to benefit Philippine nickel exporters.

‘Demand is expected to remain solid, underpinned by expanding stainless steel output and the rise in electric vehicles (EVs), led by leading global consumer Mainland China.’

Meanwhile, BMI said nickel quotations could continue to face downward pressure beyond 2025, ‘seeing more moderate growth than previously anticipated due to the continued surge in Indonesian nickel production.’

In particular, the research firm lowered its projection for the average price of nickel in 2029 to $18,000 per MT, from its initial outlook of $21,500 per MT as the market remains oversupplied.

‘Recent nickel smelter curtailments and suspensions outside Indonesia underscore the long-term nature of these market pressures.’

BMI also noted that Indonesia presents the ‘greatest source of uncertainty’ for the refined nickel market in the longer term.

‘Ultimately, the pace at which the country is able to ramp up refined nickel production capacity will determine how well supplied the global market is in the coming decade,’ the BMI said.

‘Simultaneously, evolving battery chemistries introduce another layer of uncertainty, potentially reshaping nickel demand patterns in the clean energy sector.’

Maynilad Water Services Inc., which is mulling over its initial public offering (IPO) in November, said it will submit its final prospectus this week to reflect the changes in its registration statement.

The change may include a lower share price and the increase in its cornerstone investors, according to Ramoncito S. Fernandez, Maynilad president and CEO.

He said the cornerstone investors in its maiden offering are already ‘committed.’

‘The progress is promising. And we will file the final prospectus by this Friday. The market is bad. but we are putting in a very successful and incredible story,’ Fernandez said.

According to its latest prospectus, Maynilad’s cornerstone investors include International Finance Corp., the Asian Development Bank and Security Bank Corp.- Trust and Asset Management Group.

Maynilad offer consists of 1.66 billion common shares of primary offer, 24.9 million in preferential offer, with an overallotment option of 249.04 million shares and an upsize option of 354.7 million in secondary common shares. The deal is priced up to P20 per share, but agreements with the cornerstone investors may not push through if the price falls below P15 apiece.

The Securities and Exchange Commission (SEC), meanwhile, has granted the first Philippine Green Equity label to Maynilad, pursuant to the new guidelines issued by the agency to further promote sustainable finance.

In a letter to the company dated September 26, the SEC Markets and Securities Regulation Department confirmed that Maynilad has sufficiently established and demonstrated its compliance with the requirements under the Guidelines on Philippine Green Equity, subject to its continuing compliance with the guidelines.

The green equity guidelines allow publicly listed companies and companies preparing to go public that generate a significant portion of their revenues from, and direct majority of their investments toward, green activities, to distinguish themselves from other issuers through the use of the Philippine Green Equity label.

Under the guidelines, companies intending to carry the Philippine Green Equity Level must be listed on the Philippine Stock Exchange (PSE) or preparing to go public, with more than 50 percent of their revenues and investments (sum of capital expenditure and operating expenditure) earned from or directed toward green activities. Such activities must meet the eligibility criteria of the Philippine Sustainable Finance Taxonomy Guidelines (SFTG) or the Asean Taxonomy for Sustainable Finance (ATSF). Companies’ revenues derived from fossil fuels must also be limited to less than 5 percent.

Based on the assessment report of an external reviewer submitted to the SEC, Maynilad derived 100 percent of its revenues from green activities, such as water supply, wastewater treatment, sanitation services, and installation of new water service connections, in line with the minimum 50 percent requirement as provided under the guidelines.

Assuming that overallotment option and preferential offer are fully subscribed, Maynilad could net up to P37.38 billion from the IPO, but proceeds could be upsized up to P50 billion.

The offer will run from October 23 to 29, with the shares expected to be listed on the main board of the PSE on November 7, according to the latest timeline it submitted to the SEC.

Fortune Life Insurance Company proudly stood alongside the Alliance of Non-stock Savings and Loan Associations (ANSLI) as a Gold Sponsor in commemorating its 10th Anniversary held on September 5-6, 2025, at the Clark Marriott Hotel, Pampanga.

The two-day convention and celebration marked a decade of ANSLI’s dedicated service to its member associations and partners. Fortune Life joined the festivities through an engaging booth experience and exciting corporate giveaways, adding warmth and energy to the milestone event.

Representing Fortune Life, AVP for Corporate Communications Floreda Constantino joined ANSLI’s esteemed Board of Trustees, led by its President and Chairman of the Board, Atty. Lucas Managuelod (Ret.), FICD for a commemorative photo opportunity, symbolizing the enduring partnership between both organizations.

Fortune Life reaffirms its commitment to supporting associations, such as ANSLI, that uplift lives and promote financial security. We look forward to deepening our collaboration and continuing to serve communities with dedication and purpose.

Fortune Life is part of the ALC Group of Companies, founded by the late Ambassador Antonio L. Cabangon Chua.

President Donald Trump’s administration said Tuesday that the state of Minnesota and its governing body for high school sports are violating a key federal law against sex discrimination by allowing transgender athletes to compete in girls sports.

The ruling came from the civil rights offices at the U.S. Department of Education and the Department of Health and Human Services. The agencies said the Minnesota Department of Education and the Minnesota State High School League are violating Title IX ‘by allowing males to compete in female sports and occupy female intimate facilities.’

The agencies said they found that the league has allowed transgender athletes to compete in girls Alpine and Nordic skiing, girls lacrosse team, girls track and field, girls volleyball and girls fastpitch softball.

‘The Trump Administration will not allow Minnesota or any other state to sacrifice the safety, fair treatment, and dignity of its female students to appease the false idols of radical gender ideology,’ Craig Trainor, the federal Education Department’s acting assistant secretary for civil rights, said in a statement.

Trump’s administration initiated its investigation after he issued an executive order in February giving the federal government wide latitude to pull funding from entities that ‘deprive women and girls of fair athletic opportunities’ by allowing transgender athletes to participate.

The Minnesota State High School League said in response back then that it would follow state law – not the executive order – and continue to allow transgender athletes to compete in prep athletics. Associations in some other states signaled they also might defy the president’s order, but others took a wait-and-see approach.

The federal agencies gave the state and league 10 days to voluntarily accept a list of conditions to reverse their policies or risk imminent enforcement action.

The state Department of Education said in a statement it is ‘reviewing the letter and remains committed to ensuring every child has the opportunity to thrive in a safe and supportive school community.’

The league did not immediately respond to a request for comment.

The Trump administration has launched over two dozen investigations of transgender policies in schools and colleges, including access to sports, locker rooms and bathrooms, according The Hechinger Report, a nonprofit news organization. The US Education Department said in August that Denver schools violated Title IX by creating all-gender bathrooms.

A new era in Philippines-India connectivity took flight Wednesday as Air India inaugurated its direct New Delhi-Manila service, restoring non-stop air links between the two countries after more than a decade.

Flight AI 2362 departed from Terminal 3 of Indira Gandhi International Airport (IGIA), carrying Indian tourists, media personalities, business travelers, and India-based Filipino expatriates-many visiting the Philippines for the first time.

The return leg, AI 2361, completes the roundtrip service, which will operate five times weekly, excluding Tuesdays and Thursdays.

The non-stop flight has a duration of approximately six and a half hours-significantly shorter than the usual 9 to 12 hours required for connecting flights via Bangkok, Hong Kong, or other hubs.

The launch ceremony was led by Philippine Ambassador Josel F. Ignacio and Air India Group Head for Governance, Risk Compliance and Corporate Affairs, P. Balaji, joined by senior officials from the Philippine Embassy, IGIA, and other stakeholders.

Ignacio and Balaji lit a ceremonial lamp to mark the occasion.

‘According to a Filipino proverb, ‘the prompt beats the industrious.’ Sincere thanks therefore go to Air India and its leadership, for this big, bold step – less a leap of faith than a show of confidence in the viability of this route.

‘It is an expression as well of Air India’s confidence in the upward trajectory of our larger relations, as expressed in tourism, business, people-to-people contacts, MICE, and other purposes that warrant direct, seamless, and comfortable air connectivity,’ Ambassador Ignacio said.

With the addition of Manila, Air India now operates to eight destinations across seven countries in Southeast Asia, further strengthening its regional footprint. The new route not only boosts direct travel between India and the Philippines but also opens new connections for Filipino travelers to access Air India’s expanding network across Europe and North America via Delhi.

Flights between Delhi and Manila are operated using Airbus A321LR aircraft, featuring a three-class cabin configuration-Business Class, Premium Economy, and Economy Class.

Air India is among the few carriers in Southeast Asia offering fully flat beds in Business Class on single-aisle aircraft.

‘The launch of non-stop flights to Manila unlocks the immense potential for tourism to the Philippines,’ Campbell Wilson, CEO and Managing Director of Air India said. ‘Indian travelers, with their growing appetite for leisure and increasing spending power, are seeking new destinations. These services will showcase the Philippines’ vibrant culture and stunning landscapes, while fostering greater trade and cultural exchange.’

The launch follows recent visa policy reforms that have made travel easier: the Philippines now offers 14-day visa-free entry to Indian tourists, while India grants gratis e-visas to Filipino visitors.

It also builds on the elevation of Philippines-India ties to a Strategic Partnership, formalized during President Ferdinand R. Marcos Jr.’s State Visit to India in July 2025.

Flight AI 2362 is expected to arrive at Manila’s Ninoy Aquino International Airport at 10:40pm Manila time Wednesday.